The United States Micropump Market is projected to attain US$ 4.5 billion at a CAGR of 18.2% by 2033 | FMI Study
The global Micropump Market is predicted to register a CAGR of 18.4% over the forecast period, according to FMI’s analysis. The industry’s market value is anticipated to increase from US$ 2.4 billion in 2023 to US$ 12.8 billion by 2033 end.
The widespread application of micropumps due to their capability to effectively handle incredibly small portions of liquid is augmenting the market growth. Further, adding to the market growth is the fact that micropumps have gained wide recognition in the biomedical sector owing to their higher pumping flow rates and smaller dimensions. Additionally, the market is picking up momentum on account of surging demand for medical devices offering precise drug delivery.
The micropump market is favorably impacted by the increasing deployment of micropumps in microfluidic research. Moreover, the usage of micropumps also ensures an automated and smooth flow of medication periodically. To ensure accurate medication and avoid overdosing, micropumps are used by healthcare providers.
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The surging popularity of drug delivery devices that use microelectromechanical technology (MEMS) due to their significant uses in the biomedical field, is propelling the market further. Additionally, the enhanced efforts to boost drug delivery efficiency in recent years have been augmenting market development.
A Microfluidic pump is a type of small-scale pump that is capable of moving small volumes of fluid through microchannels or small channels. These pumps are used in a wide range of applications, including medical devices, analytical instrumentation, and microfluidic systems.
- The United States is projected to be a significant micropump market in the predicted time. The market is expected to garner revenue of US$ 4.5 billion by 2033. The market is projected to demonstrate a CAGR of 2%.
- China is projected to be the second leading market for micropump. The country holds a significant grip over the Asia Pacific micropump industry as it contributes substantially to regional growth. By 2033, the market is anticipated to reach US$ 5 million, expanding at a CAGR of 17.8%.
- The United Kingdom is projected to attain US$ 538.7 million by 2033. A CAGR of 17.4% has been estimated for the United Kingdom in the upcoming years.
- Japan is another significant market in the Asia Pacific region. The market is anticipated to achieve US$ 750.7 million by the year 2033. The market is expected to assume a CAGR of 16.8% from 2023 to 2033.
- The in-vitro diagnostics segment is assessed to expand at a CAGR of 17.6% over the forecast period. Due to the extensive application of mechanical and non-mechanical pumps in in-vitro diagnostics, the segment is projected to assume a significant growth rate.
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Latest News Containing Market Developments by Key Participants of Micropump Market:
- In March 2022, Medtronic India introduced MiniMed 780G, a next-gen closed-loop insulin pump system. The system is designed for the treatment of type 1 diabetes in people ranging from 7 to 80 years of age. The MiniMed 780G allows customization of glucose goals with modifiable targets setting a minimum of 100 mg/dL.
- In 2021, Bartels Mikrotechnik GmbH launched the mp-advance kit and an mp-select kit. The former kit includes an entire range of components to make up a complete microfluidic system. These components include mp6 micropumps, and electronics such as mp-Highdriver, mp-Lowdriver, mp-Highdriver4, and associated accessories. These micropumps transport a small number of liquids and gases and have rendered themselves indispensable in some sectors.
List Encompassing Key Players Operating in Micropump Industry
- LEE Ventus
- Sensile Medical
- Cole-Parmer India Pvt Ltd
- Dolomite Microfluidics
- The Lee Company
- Gardner Denver
- Takasago Electric, Inc.
- Halma Plc
- Servoflo Corporation
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Market Segments Covered in Micropump Industry Analysis
By Product Type:
- Mechanical Micropump
- Piezoelectric Micropump
- Peristaltic Micropump
- Non-mechanical Micropump
- Drug Delivery
- In-vitro Diagnostics
- Medical Devices
By End User:
- Biotechnology & Pharmaceutical Companies
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
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